tv MONEY With Melissa Francis FOX Business February 6, 2013 5:00pm-6:00pm EST
because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." liz: now let's take it off the desk where austria people are paying to do this, take a nap. it offers 30 minutes on a couch where you hooked up to a heart rate monitor. this displays breathing patterns. you don't want to look at monitor, you want to sleep. the more regular breathing the clouder classical music gets. the cost? 15 bucks. why not? david: the european union begins their two-day summit in brussels. budget talks are expected to take center stage. a lot of investors are looking at this. the european leaders are expected to mush for more heart think pared down
budgets. liz: same store chain store sales. chain stores correspond with roughly 10% of overall retail sales. they're a very good indicator of consumer spending. david: let hess hope for the best for them. number one thing to watch tomorrow, initial jobless claims. economists expect to drop by 8,000 to 360,000. they posted a big kin crease of 38,000. a look at four-week moving average hinted at slight improvement. liz: we'll be back here tomorrow to see how it all works out. "money" with is melissa is next. melissa: i'm melissa francis. here is what is upon any tonight. millions more will lose employee health insurance than first promised in fact twice as money. courtesy of obamacare. what other surprises did the cbo unearth? you will be as shocked as we were. the u.s. has spent billions to keep egypt on our side. shouldn't wed be buying
better friends? the fallout could reshape the middle east and we've got details. the plot thickens for baseball's latest steroid scandal. it is not alex rodriguez link to a miami steroids clinic. more baseball stars are forced to speak out. what is the cost to their endorsements in the league? a former world series champion will give us his take. even when they say it's not it is always about money. melissa: all right, first tonight, the bombshell hidden within the congressional budget office's new report. the first shocker, flies in the face of president obama's claim. >> no matter what you've heard, if you like your doctor or health care plan, you can keep it. melissa: well, not really. the cbo always expected some people would get bumped off their plans. now it projects that number
is actually double the august estimate of 4 million people. now, looking more like 7 to 8 million americans will lose their benefits trat work. here to help us sort all this out, dr. peter morici and dr. lee van nokia cure from louisiana sleeve period of time. the from the beginning the math never added up, right. >> no it never really added up. health insurance will be much more expensive. employers will let go, pay the penalty and have their employees go into the state exchanges and buy their own insurance. in some places that's what the employees want. restaurants that have a lot of young wait staff and so forth, they don't want to be forced to buy health insurance. melissa: lee, is this a surprise to you? or is it a surprise to you that the number keeps moving? >> no, it's not a surprise this would happen and the problem with these exchanges, i have a friend who is an executive at, at a health
insurance company and they're just pulling their hair out because they're so heavily regulated, these exchanges, it's making the products so expensive, that they don't even know who is going to be able to afford it. and like we said, if you have guaranteed issue, with no preexisting condition, you can just wait until you're sick, pay the penalty and wait until you're sick and need insurance. it's going to be a real mess up. melissa: you know what, lee. that actually brings up a lot of points or a specific point that i heard from a lot of people which is that employers are already starting to figure out how much it is going to cost and begin the process of kicking people off the health care plans. but the exchanges are not set up. so there is a short-term disconnect where people may find themselves without insurance and they have nowhere to go. do you think that is really possible? >> i think there's a lot of states are starting and trying to set up the exchanges but you're right, there are so many regulations in the exchanges, the health insurance companies aren't really sure
what to do. they're trying to make products right now and some of them aren't ready. and then you talk about, well, okay, some people might qualify for expanded medicaid but right now you can't even find doctors that will take medicaid. melissa: right. >> so it will be a big issue. there aren't even enough doctors to cover everybody. melissa: yeah, peter, this is the part that i didn't get. everything about what we wanted to do, maybe, you know was for good reason but it was going to cost more. you wanted to cover people who had preexisting conditions. you wanted to add people on to their parents insurance that were up to 26 years old. i mean you want to cover all kind of things that weren't covered before, all those things have cost. when you said, well, that will drive up the cost of health care, they would say no, the savings will come from no one using the e.r. or whatever the skies was. is there any way to work out the math so it wouldn't be more expensive? >> no this, there is no way to work out the math.
remember the obamacare was a campaign bill than a health bill. reproductive services and so forth, this thing was carefully crafted to be politically acceptable but economically dysfunctional. it just doesn't make much sense. and it is not going to make many more sense. i have the mind cbo is underestimating the employers that will drop people. there is a lot of pushback from employees they don't want to have to pay for a significant share of a very expensive health care plan. melissa: so then what is their choice at that point? if your cost goes up, which clearly, some people are already seeing that this year in their paychecks as health care costs go up and more of their paycheck is gone paying for it, what is their choice if they don't want to pay for it? >> i think we've already started to see some of it. families behave very strategically. one spouse tries to find a job with lower pay and a lot of benefits. the other spouse tries to find a job where there are no health care benefits but more reasonably reenumerated. you see that a lot in the
restaurant industry. a lot of restaurant jobs where really isn't any health care and employees don't want it. i've spoken to restaurant owners that tried to initiate health care programs and the employees don't want them. melissa: lee, i don't know, that sound pretty efficient. if somebody is, trying to divide your family in a strategic way, what's wrong with that? >> well i think, and first of all i do want to take exception, emergency care and emergency services are only 2% off all health care costs. so it is true that will be a savings but, you know, i think it's a real issue. and right now people that have insurance, it's another form of sort of cost shifting because people that have insurance, their premiums are going up. they're getting bigger co-pays. you know, they have bigger deductibles. and finally, they're going to price themselves out. and, it's, and i don't think the insurance companies are ready to make these products. melissa: yeah. okay.
>> so, the e.r. will always be there for everyone. melissa: we'll leave it there. thanks for coming on. we appreciate it. more startling news out of the cbo report, cutting the deficit will grow the economy. they quantified that, it will really happen. look a chart showing three different scenarios that could happen. if we add to the deficit we'll see a bump in gross national product in the short-term but the economy could take a major hit in the long run. if we cut the deficit we see a major bump 10 years, down the road. look at that even though the economy will take a hit in the short term. when it comes to the deficit, shouldn't we focus on the long game here i'm wondering? here with more is former director of the congressional budget office, douglas holtz-eakin. thanks so much for joining us. >> thank you. melissa: i was so excited the cbo finally went out and quantified this and tried to illustrate it to people. anytime you try to make the case we should cut spending short term to help our children down the road or
ourselves depending how long you are, people poo-poo that is not like real math s that real math we saw on the bar charts? >> that is real math and the second example of that real math is what the cbo put out which says, suppose you do nothing? well, then we have a fault turf bad growth. their long-term growth rate for the u.s. has been marked down from 2 1/2% a year ago to 2.2%. and that's testimony to a staggering debt burden this economy is bearing. whether you look at it as the bad news, or what we have now or the good news what happens if we take action the math is the math and we can grow more rapidly than we are. melissa: why is that the case? what is it that happens? what are the mechanicses in the economy? if you cut the deficit what does that free up? why do we see that growth? >> first and foremost you take of the table the potential in the future one of two very bad things will happen. either we do nothing which in case we run into a gree greek-style crisis. trust me if you're a business trying to expand or
locate in the u.s. that is not a very appealing future that is not pro-growth policy. you say we'll not do that. it takes off the table future tax increases. once you spend the money you will pay for it one way or another. if you cut the spending you say, you know we'll have a more efficient government, less costly government. it will not be run by taxes. it will not have a lot of debt. that is a better pro-growth environment. the private sector will drive this growth and that is the key to making it more productive. melissa: you look in the same report, it says by 2023 our deficit is going to be or our debt will be $26 trillion. 26 trillion, 16 trillion. they're both like monopoly numbers that don't really exist in the real world. why should we care about that? >> historically when countries get above 90% of their economy size, 90% of gdp they're in the danger zone where they grow more slowly, they get into financial trouble. we're at 100% right now. $16 trillion economy. $16 trillion in debt. roll the clock 10 years from now, same thing, $26 trillion economy, 26
trillion in debt. what the cbo is saying we can do nothing and live the next 10 years in perpetual potential crisis and with bad growth. that's a very big price to pay. melissa: do you think that's one of the reasons we're seeing slow growth right now? >> i think there is no question about it. i think we benefit from being serious about this. quite frankly, melissa, we don't have to have the bad news up front. if we were take care of some big spending programs that will really blow up at the end of the decade, medicare, medicaid, affordable care act which will be very expensive, social security, it will be no near term austerity. this year we won't cut senior benefits. we take care of the debt problem. melissa: all these bills seem like they're free because chinese are buying so much of our debt. interest rates are low, and it doesn't seem like much of a problem. what would be happening today that wouldn't be happening if we didn't have this huge spending overhang? >> if we doesn't have the huge spending overhang we
would be best looking horse in the glue fact at this -- factory which we are financing cheaply, we would be a good-looking horse really and we would have the capacity to attract business headquarters here. we lost the vast majority of headquarter companies. they're going elsewhere. we would would have the ability to attract companies that sell to the developing world. we would establish our global presence and cement it for the 21st century. right now we're hanging on but we're not really building the foundation for future economic growth. that could happen if we had a better environment. melissa: that's it right there we're barely hanging on. we're not building anything for the future. doug, thanks for coming on. always good stuff appreciate it. >> thank you. melissa: turn to today's market moment. investors took a breather from the market run-up and worries about political instability in europe. still a choppy session for stocks. the dow and s&p 500 squeaked out slight gains with the nasdaq falling three points. next on "money", our debt piles higher and higher by the day but a budget from
president obama is nowhere in sight. he missed the deadline for his fourth year. why? we're going to explain that coming up. plus the post office waves bye-bye to saturday delivery but does the drastic step to cut costs go far enough? congressman darrell issa joins us with reaction. more "money" coming up
melissa: so we are narrowly avoiding cliff after fiscal cliff. you would think passing a budget would on the president's top priority. nope, think again. it has been 1379 days since the last budget was passed in 2009. the white house is officially late with its budget proposal again, for the fourth time in five years. it is astonishing given concerns about our country's fiscal situation. joining me now is congressman marsha blackburn who is on the house budget committee. welcome back to the show. >> good to be with you. melissa: let's talk about procedure here. what is supposed to happen? the president is supposed to come up with budget and turn it over to congress, right? >> that is exactly right. he is to lay out his budget and you know, melissa, a
budget is a statement of the nation's priorities. so we're not getting that and here we are, he is late again. so it throws the entire process off pace and of course the house has to pass a budget by april 15th and, as you know, we passed a no budget, no pay a couple weeks ago to make certain that the senate finally takes up a house-passed budget. they don't pass it, they're not going to get a paycheck. melissa: what do you do procedurally if he doesn't hand one over? can you do one of your own and turn it over? what is your options? >> that is what we're going to have to do. under the direction of paul ryan, who is chairman of the budget committee, they will get to work. they will get baseline numbers from the cbo and i imagine in the next couple weeks they will start laying out a process and allow the house budget committee to do its work, to work with the standing committees and to make certain we do have a
spending plan for this nation. we're wanting to get us back on the road to fiscal health. and you know, we would wish that the president shared that desire with us. melissa: obviously it is a strategy. it is not like he is not turning in his senior thesis in time. he is not working on his homework or doesn't have anyone sitting around with a calculator that could help him. clearly this is a strategy. what does he gain by stalling not doing anything? >> that is a question that a lot of americans are asking because they realize that --. melissa: but you're there. you know the answer. what's the answer? >> well we don't, we don't know what he thinks that he gains by doing this because people are tired of the trillion dollar plus deficits every year. they want to see this nation on a spending plan. they want the out of control spending to stop. so if you would think the president as the leader, the commander-in-chief, would see it as item number one, to lay out that statement of
priorities, and to get that budget done. melissa: is there an advantage if you don't go first, that you get to throw toe meat toes whoever goes first and say their plan is bad for america? i'm trying to figure out what the advantage is? is it like showing your hand last? >> i don't know what they think the advantage is. what we think is the imperative, as, that we have a budget that is going to come into balance and be able to do that with within a 10-year period of time. the last budget the president brought forward it didn't come into balance for another 40 years. people are saying, look, we've got to do better than this. you can't keep running up the debt. you can't keep running the numbers off the credit card. sooner or later you've got to say the out of control spending stops. let's live within our means. that is what, that is what the american people are wanting to see. and we'll get to work on it. with or without the white house weighing in. melissa: is there a chance to get control of the
situation to turn it around? for people that aren't in washington they watch from the sidelines and they see the deficit blow out of control and they see the cbo report which is, really lays out where the country is headed if we continue to spend in this direction and frankly we blame everybody in washington because we say someone needs to stand up and take control and get this thing back on track. foreget the fact we voted for you all so we're as much to blame as anyone else. seriously americans sit at home and get frustrated. so you're getting the blame too. is there any way to take control of the situation and turn it around? >> that's what we will do, again. house republicans will bring forward a budget. we will pass that budget. we will send it to the senate and we'll do what we've done in the past, melissa, which is no gimmicks. we're telling you the truth. this is what the situation is. this is what we think needs to be done in order to address it. and, to restore a spending plan, a predictable, respectful spending plan. seniors are depending on it
for benefits that they have prepaid. and that they have earn and rightfully deserve. you have got small businesses and families that want to make certain that their taxes don't go up. melissa: right. >> they want some certainty and predictability. small businesses, manufacturing companies are saying we want some certainty from regulations. and, this already requires that you have that budget that, spending plan, that blueprint. melissa: without question. >> someone to guide us. melissa: it is mind-boggling to all of us. >> yes indeed. thank you. melissa: coming up on "money", neither rain nor snow nor sleet will stop the postman but saturdays, the post office is dumping saturday delivery to save money. may not be enough to stay financially float. congressman darrell issa joins us with reaction. with friend like eye get who needs enemies? iran and egypt cozy up so why are we still egypt's sugar daddy? we have a details on a huge power play by iran. do you have ever have too
ally bank. your money needs an ally. ♪ . melissa: so saturday might soon be a sad day for the united states postal service. the usps announcing a new plan to cut home mail delivery to just five days a week that could start as soon as this summer. it would be a start to end the bleeding. the post office lost $16 billion last year alone and still continues to lose 25 million a day. it is questionable whether congress will okay the deal. even if it does pass, would the annual 2 billion in savings from cutting saturdays really help the struggling snail mail service? congressman darrell issa is chairman of the house oversight and government reform committee, nice to have you on the show. let me ask you, a lot of people saying the postmaster general didn't have the authority to go ahead and do this. the president said he just heard about it yesterday.
can he do this. >> absolutely. it is an independent agency and i have reviewed congress's instructions and it simply says he will maintain the level of service available in the 1980s. he is doing that. there is no question that some things have to cost more, but understand, for all your viewers, every american home will have the opportunity to have either a letter or a package received on saturday. the difference now is, it will be priority mail. it will pay a little more for that saturday service but not only does it save $2 billion for the post office, it is the beginning of saying we need to individualize service. we need to do the right service on the right day on the right way. melissa: it is a beginning and it is just the beginning especially if you look at the losses. they lost $16 billion last year. it was triple what they lost the year before, 25 million a day. they expect to save $2 billion with this move. some say that is ambitious is. it will not even add up to that much. what else should be doing?
>> first of all they will not only save the two billion but increase the volume in priority mail but will have a net revenue increase but the other things they need to do, you and i all receive more and more packages than ever before. the post office has to reconfigure itself to be the best package delivery company because that's the area that there's growth. melissa: i absolutely agree. that area is up 14% in the past two years, like you said. while in the past 10 years snail mail is down 10%. should they get rid of some of that service? should they charge a whole lot more for snail mail? what do you think the answer is there? >> it will be a little of both. yes the cost of a first class letter could go up a little. let's understand there are 37 million homes in america where a package is left on the stoop, rather than put into a secure mailbox. as the post office seeks to change that, they will save about $5 billion by delivering to the curb in a cluster box, rather than to the chute. so it is a win, win for the consumer. we have a lot of areas which
the postmaster and congress agree the changes have to happen and they will. last year the postmaster cut a lot of costs. to cut more beyond this move will take congressional action. we need to work with the postmaster to get the essential service to break even. melissa: you're absolutely right about that. when you look at it, 80% of the costs come from labor. that is the problem. you have to shrink the size of labor at the post office and some of the benefits that they're getting. do you think, does congress have the appetite to do that and really make big changes in those labor costs? >> well i've got good news for you. the average age of a postal worker is 59. so it is not about laying off people. it is about simply encouraging people to retire, and making sure you do not need to replace them with a new worker. that is something that these kind of efficiencies can do. and it is a big part of what congress has to do, minimize the number of post offices. maximize the number of service. reconfigure per packages. make sure there are secured
delivery systems. we do all of that and the important delivery service --. melissa: retirement cost, what you said scott sort of scares me because retirement cost are a big part of the problem. pension and health care for retirees something people point do as the biggest overhang. they want to not fully fund that plan to save money. more people retiring, i don't know, it doesn't seem like it will solve the problem, congressman. >> you have a good point. except for the 11 billion the postal service defaulted on, they're fully funded into the system. they have been paying as you go just as all of us do in social security and medicare for health care and their retirement. so when these individuals retire into what is called fers today, the federal employee retirement system. it is fully funded. they come off the payroll of the post office and draw into the pension they have been paying into. these changes, these reductions in force will right size the post office. you fade another point.
there are other things that need to be worked on. the cost of health care. the postmaster asked for more authority on single bid for health care, dramatic i reducing costs for 500,000 workers. that is something that congress has to let him do and let him show it will save money. melissa: you're so right about that. congressman, thanks for coming on. we appreciate your time. >> my pleasure. thank you. melissa: here is our "money" question of the day, would you get a post office box to keep six-day delivery. we like to hear from you. facebook/melissafrancisfox or follow me on twitter @melissaafrancis. an alliance forms between egypt and iran that could turn the middle east on its head. should congress cut off money to egypt. first it was a-rod. the mlb is involved in a new steroid scandal. will it cost millions in endorsements and ruin baseball's push for more
(announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. melissa: friends forever? historic trip iran's president arrived in egypt marking the first visit to cairo by an iranian leader in more than three decades. iran is calling for a strategic alliance with egypt extending the nation a big line of credit. not everyone is happen about this. an irrate egyptian threw a
shoe at ahmadinejad nearly hitting him. did you see this? where does this leave us. we have a fox news contributor. great to have you back on the show. the shoe strikes again. this happened to george w. bush in 2008. i think he was in iraq though. is this a trend. >> it is humerous for us but in the arab world it is a huge disgrace to throw a shoe at somebody particularly on a trip like this where ahmadinejad was hoping to rerekindle this relationship that has been estranged. melissa: it seems like iran has come to the table with a big check, and egypt is accepting it? >> they haven't accepted --. melissa: hasn't happened yet, yeah. >> they might accept it because their economy is in shambles. that is to think about why revolutions happy in first place. people are hungry. economy, the country can't sustain the huge population that keeps growing. obviously tourism is a huge
moneymaker for the egyptians. it is not the most desirable place to visit that is loss as well. they might say yes. melissa: what would stop them from saying yes. >> would estrange them from aid and military hope we're giving them but what the iranian regime is basically doing, you're petting this help from the americans. we're willing to offer you the same. you don't have to kiss up to the americans. you don't have to follow the mubarak foreign policy record. you can actually do your own thing and iranian regime is seeing an opportunity to have a hand in bringing egypt in on their team. melissa: so how do you think that plays out? if they go in and offer the them the exact same support, who would they choose? >> well it depends on exactly how they want to go forward. remember the shoe throwing. what does that symbolize? at the core you have clerics also in egypt and morsi regime is obviously muslim brotherhood. they are very religious. they don't see the geopolitical advances here as a priority. they might see the sunni,
shiite rivalry being more important. this trip was a slap in the face to the u.s. who is offering all this help to egypt there is also, the clerics have been repicking ahmadinejad and iranian regime you can't extend this shiite agenda throughout the region. melissa: we're not super popular there either. >> no, we're not. melissa: i don't know, are we necessarily anymore popular? >> this is the wake-up call for the americans, the u.s. administration. we have to realize that iran, obviously the regime, has its own agenda. and now egypt is not the egypt that it used to be. why did we offer egypt aid in the first place? in '78 president carter gave them aid, military aid to incentivize them being a peace keeper in the region, right? they helped out with the camp david accords which led to peace between israel and egypt. but they're not behaving the same way. we'll not give them the same aid when they're not behaving same way and actually cozying up to the enemy. melissa: my question was, iran is supposed to be
squeezed so tight with the inflation and they have somehow $1.6 billion to give egypt. >> they offered them a credit line. melissa: what does that mean? they're giving them oil and natural gas or something? >> iranian regime said we're tight on sanctions, another slap in the face to the u.s. we're offering them this money because we got around the sanctions. they're basically saying --. melissa: not hurting us. not a big deal? >> the bottom line it is not hurting them as badly as we want. not stopping them from their nuclear agenda. melissa: this is very tricky. we don't want to look like we're caving to intimidation, what is the appropriate u.s. response? >> the u.s. is saying we've been offering all this aid. we expect a certain level of behavior. we don't want you to, you know, basically have a new chapter and follow, things have changed basically. that is the wake-up call here. melissa: i know. thank you so much. appreciate the information. lot to chow on there. time now for today's fuel gauge report.
natural gas sees it climb for the third straight day. colder temperatures are forecast for the coming week. a major snowstorm is expected to slam the northeast this weekend. the forecasts are raising expectations for natural gas demand. fracking is the second biggest source of u.s. greenhouse gases. according to a new report by the epa but power plant emissions easily eclipse fracking. the study find power plants produce 10 times more carbon dioxide. bashar al-assad's -- saudi arabia oil production produced just over nine million barrels of crude a day in january. that is occurredding to reuters. melissa: coming up on "money", a-rod may have just been the beginning. more baseball stars are linked to a shady steroid clinic miami. will the growing scandal take a bat to their endorsement and tarnish the game's image once again? at the end of the day it is all about money. ♪ [ lisa ] my name's lisa, and chantix helped me quit.
i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away.
tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop taking chantix and see your doctor right away as some can be life-threatening. if you have a history heart or blood vsel problems, tell your doctor if you have new or worse symptoms. get medical help right away if you have symptoms of a heart attack. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. with chantix and with the support system it worked. it worked for me. [ male announcer ] ask your doctor if chantix is right for you.
the yankees highest paid player taking serious heat whether or not he has been taking steroids. he has been dogged by these accusations for years but now two other players are speaking up making pretty candid admissions. could this affect a-rod's endorsements and what could it mean for the league? joining me is rob dibble, fox sports radio host and world series champion. welcome back to the show. this story seems like it is getting some traction. what is your take? >> well, melissa, it is getting traction because we're talking about tens of millions of dollars and the perception that you have a commissioner keep telling everybody, hey the game's cleaned up, our testing program is working. there's nothing to worry about. all the records now are on the up and up. it is even playing field. and then you see guys like melky cabrera, alex rodriguez, ryan braun, continually associating with these known, you know, ped guys that are basically, the father of tony bosch is
directly associated with manny ramirez. you don't want to be anywhere near his son because you're associating with more guys major league baseball frowns on. for my money, you're talking, melky cabrera, average outfielder, something happens, he goes to an awl star mvp he was looking to make 50 to $80 million. it is big business to get around the drug testing policy. melissa: you alluded to this but it is all being traced back to this biogen sis company. is that going to be the smoking gun in this particular case? can they go inside and get the records and talk to robert bosh and put pressure on him and will this unearth a bunch problems? >> i definitely think it will unearth a lot of problems because you will see a lot more names come out. not just the big ones, but middle of the road and some of the other guys, backup catchers, borderline mine another league guys. if you're melky cabrera and
fourth or fifth outfielder on the yankees, now you're an all-star mvp that puts you in the higher echelon of making money. ryan braun has a $100 million deal. alex rodriguez, $500 million career of making money at the major league level. ist is the perception these guys are the pooing the system and major leak baseball is not having of it. melissa: is it sear just enough to bring a-rod down? 275 million with the yankees in 2007, huge, money, you know a huge player here in new york. could this really take a-rod down? >> well, melissa, honestly i don't think a-rod is that relevant anymore. his, pow are production's way down. he has got a lot of injuries, especially in his hip area, his back area. so i don't think he is going to be that big of a factor. yet the yankees owe him $114 million. so if anybody wants to get out of that deal it is new york yankees.
alex rodriguez, he will be out this entire season. if i could get out of that contract anyway, if a-rod --. melissa: that leads to the conspiracy theory he is peddling he thinks, yankees and major league baseball are conspiring together to push him out so they don't have to pay that money. is there any possibility in your mind that's the truth? >> no, that is not the truth. he pushed him is out. surrounding yourself with our own little posse of people that got him involved, got him involved with this stuff in the dominican republic. he is probably one of the most hated baseball players right now in today's game. melissa: why? because a lot of guys, they think he is phony. you know. they never have thought of him as a team guy, whether he was seattle, texas or the new york yankees. he was never a yankee. he won one championship in his career. obviously one of the greatest players to ever play. once you admit to taking steroids that puts you where i don't even want to be. i don't even want to associate with that guy. >> do you think baseball is
finally cleaning up the game? give me the bottom line on this whole thing? is it finally getting clean or is it all for show? >> it is all show. it is all for perception. you don't need a former opener as commissioner of major league baseball. it has gone on too long. it is a farce. the more he says the game cleaned up the worse it looks on the game. melissa: rob, thanks for coming on. >> my pleasure, melissa. melissa: the people have spoken. monopoly fans banish ins one of it classic games is gone. the replacement is worse. might be one. worst pieces ever. you can never have too much money, monopoly or otherwise. ♪ . twins. i didn't see them coming.
i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose isharesor their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully
before investing. risk includes possible loss of principal. if your a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. see your doctor, and for a 30-day free trial,
go to axiron.com. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created galzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side.
♪ melissa: all right. it's time for a little fun with "spare change." joined by fox news contributor and republican strategy -- you want me to sing the name wrong for more than a year. let's get started with a "money" update. a monopoly lovers to vote on one of the original playing pieces. seriously, at a little more faith than what would be chosen. it turns out of of a call
options, the robot which rocked, the helicopter to fairly awesome, the diamond ring, like its sparkling. what to everyone pick? the cat. the cat is not terrible, but it was the worst one ever. it may have been an overstatement, but they cannot blame the cat. a robot. melissa: no-brainer. >> i wanted the helicopter. i wanted it to have trump written on the side. that would have been perfect. >> oh well road. you could have changed its debt health had. melissa: that we know the fix was not in part the cat and of the gate. >> a dog for 70 years. maybe there is some sort of -- >> i don't know, but i am highly disappointed. driving down all excited.
what is it going to be? >> and they got rid of the iron. we both agreed we should have gotten rid of the symbol. i'm not sure why it is still around. melissa: here is a cute one. it is a 2-year-old economic a shot from any angle, lying down, setting up, sstanding. look at him. he sheets any kind. jackie cheese. he even does a 7-footer. this all looks the same, but wait. it is not a trickery is just doing it once. he is doing it all over the place. what do you think? >> it's crazy. crazy. did you see that? >> that is amazing. different heights, and having four kids, i can tell you the guy they don't do that. they don't do that. what happens all the time, his brother in one of these shots
just a block committees still makes the shot. he still makes the shot. >> your kids don't do that. give me a break. >> and saying that they like each other's jobs are at least try to. >> they used to be a record in colleges. your record from kindergarten. melissa: stop by and stopping this kid money. >> i really have respect for this. melissa: it's crazy. >> the same fate as child actors because i do not want this kid to become gary coleman will one of these other. >> tiger woods. melissa: is going to make a billion dollars. it does us low and down at all. >> not trying to make a billion dollars. >> lovely. melissa: i think this is incredible. i watch it on line. a 3-minute video. i was glued to it. melissa: i hope people confined is because this is great stuff.
moving on. the bigger a ceos signature the biggest paycheck. after analyzing signatures and sec filings the study concludes that those with bigger signatures are narcissistic and spend more capital on acquisitions. those same ceos perform most poorly in competitive industries and uncertain times. maybe now is not a time to have a really big signature. of course, we had to experiment right here. there we go. yours is nice. >> it is just n.j., and then i get bored. >> i know. melissa: yours is actually clear making fun of me. >> yours is in arabic. >> that is upside down. >> that the looks like an el and is on the far right.
melissa: your brain is upside down. i don't know if they are able to judge to is the biggest is they gave me a huge piece of paper. eroded in the middle, but there is no size reference. >> starting with the j. not everyone can totally for jar signatures and from all of us. melissa: next up to my new study suggesting that global warming can be reduced if you work less and take more vacation. by living a more european lifestyle we can cut as much as half of the expected rise in the global temperature by the year 2100. it sounds like a ridiculous excuse. >> it sounds like a ridiculous excuse. melissa: i had one of my scientists